SeaChange International (NASDAQ:SEAC) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 320,100 shares, a decline of 8.4% from the June 30th total of 349,400 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 210,200 shares, the days-to-cover ratio is currently 1.5 days.
Several research firms have recently issued reports on SEAC. ValuEngine upgraded shares of SeaChange International from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of SeaChange International from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.00.
Shares of SEAC traded down $0.06 during mid-day trading on Friday, hitting $1.87. 52,500 shares of the company traded hands, compared to its average volume of 168,737. SeaChange International has a 1-year low of $1.13 and a 1-year high of $2.98. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $71.39 million, a PE ratio of -4.79 and a beta of 0.89. The business has a 50 day moving average of $1.75 and a 200 day moving average of $1.50.
SeaChange International (NASDAQ:SEAC) last issued its quarterly earnings results on Thursday, June 6th. The software maker reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.10). SeaChange International had a negative return on equity of 30.21% and a negative net margin of 77.53%. The business had revenue of $8.49 million during the quarter. As a group, research analysts expect that SeaChange International will post -0.31 EPS for the current fiscal year.
In related news, insider Mark J. Bonney acquired 126,749 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $1.50 per share, for a total transaction of $190,123.50. Following the completion of the acquisition, the insider now directly owns 351,527 shares in the company, valued at approximately $527,290.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert M. Pons acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were bought at an average price of $1.47 per share, for a total transaction of $29,400.00. Following the acquisition, the director now owns 118,039 shares of the company’s stock, valued at $173,517.33. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in SeaChange International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 665,043 shares of the software maker’s stock worth $951,000 after buying an additional 7,558 shares during the period. Managed Asset Portfolios LLC increased its holdings in SeaChange International by 7.8% in the 2nd quarter. Managed Asset Portfolios LLC now owns 151,095 shares of the software maker’s stock worth $216,000 after buying an additional 10,870 shares during the period. Renaissance Technologies LLC increased its holdings in SeaChange International by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,501,814 shares of the software maker’s stock worth $2,148,000 after buying an additional 17,464 shares during the period. GMT Capital Corp acquired a new position in SeaChange International in the 1st quarter worth approximately $51,000. Finally, SG Capital Management LLC acquired a new position in SeaChange International in the 2nd quarter worth approximately $97,000. Institutional investors own 40.52% of the company’s stock.
SeaChange International Company Profile
SeaChange International, Inc provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and television advertising content worldwide. It offers video products, including SeaChange Adrenalin, a multiscreen video back office platform that enables service providers to manage, monetize, and deliver a seamless viewing experience across televisions, personal computers (PCs), tablets, smartphones, and other IP-enabled devices; and SeaChange AssetFlow, a content management solution, which is used to receive, manage, and publish content for viewing on televisions, tablets, PCs, and other consumer devices, as well as SeaChange Rave, an integrated platform.
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